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glennmercer
Oct 13, 2016 10:10 PM

EURUSD Bat Complete! Buying the Pullback Long

Euro Fx/U.S. DollarFXCM

Description

Hey traders! I like a long position here, but I want to buy the pullback to the unhit daily pivot which will yield a higher R/R and eliminate that bearish magnet. The .5 bat target is highly confluent, with another .786 fib and a missed daily pivot at the same level. I want to move quickly to breakeven after the trade is active. I will update with another idea if I take the long. Stay tuned!
Comments
AkashGaur
Hie glen, another very similar setup to yours
Looking to buy the pullback myself if it creates a reversal pattern like a wedge or a channel
AkashGaur

The reversal pattern makes me think that our orders will get filled around 1.01 area
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